Interview Korea's tungsten mine could help US cut reliance on China, Tungco CEO says

As the United States seeks to reduce its reliance on China for tungsten, a critical mineral used in semiconductors and defense systems, producers in allied nations such as Korea could help fill the supply gap, according to a Kentucky-based tungsten recycling executive.

Cliff Nance, owner and CEO of Tungco, said “more production from trusted allies” could help the United States reduce its reliance on China, which dominates the global tungsten supply chain. He welcomed the prospect of the U.S. importing tungsten from the Sangdong mine in Yeongwol, Gangwon Province, where Almonty Korea Tungsten Corp. (AKTC) completed production facilities in September.

“Almonty’s Sangdong mine is a positive development for both Korea and the U.S.,” Nance said in an interview with The Korea Times. "Breaking China’s dominance of tungsten requires more production from trusted allies, and Korea can play an important role."

According to the U.S. Geological Survey, China produces 67,000 of the 85,000 metric tons of tungsten mined globally each year. Seeking to reduce reliance on Chinese supplies, Tungco has been recovering tungsten from discarded industrial tools and other scrap materials since 1969, becoming one of the world’s largest suppliers of recycled tungsten raw materials.

Tungco, a family-owned company founded by Steve Nance, was built on the belief that the U.S. “cannot afford to overlook the tungsten sitting in its own backyard.” In April, it launched Project 74, named after tungsten’s atomic number, to recover the mineral from scrap and process it into high-purity sodium tungstate, a key raw material for new tungsten products. Tungsten, Nance said, “is in our cellphones, our industrial tools and anything that goes BOOM.”

“We have spent more than 55 years recovering valuable tungsten, and through our Project 74 initiative, we're turning American industrial scraps into a secure domestic supply. Korea can help America diversify its supply,” he said.

The U.S. has not commercially mined tungsten since 2015 and remains more than 50 percent reliant on imports, Nance said. Citing a Bloomberg report earlier this month that CME Group plans to launch tungsten futures in the first quarter of next year amid surging global prices, he said the U.S. has yet to secure a domestic supply of the critical mineral.

Amid the supply shortage, Nance sees the Sangdong mine not as a competitor but as a partner in reducing U.S. reliance on China.

“We welcome opportunities to work with companies like Almonty that share our commitment to reducing dependence on China. The future of tungsten security isn't mining versus recycling," he said.

"It is both. Almonty brings new primary production while Tungco brings decades of experience recovering and processing tungsten already in circulation. Together, allied production and American recycling can create a stronger, more resilient supply chain that China cannot easily disrupt."

Nance said Korea’s recent investments in the U.S., ranging from a Texas power plant and nuclear reactors to Alaska LNG development, could help drive future tungsten demand as Seoul seeks to ease trade tensions with U.S. President Donald Trump’s administration over tariffs.

“Korean investment in American manufacturing, energy and advanced technology is good news, and it reinforces why securing critical minerals is so important. Tungsten is essential for the equipment and industrial processes supporting these industries, and demand will only grow,” he said.

“We're open to partnerships with Korean companies, including Almonty, that complement our capabilities and strengthen American supply. Our goal is simple — to make sure America's next generation of industrial growth isn't dependent on China for the materials that power it.”